Jubouri calling for amendment of Banking Act and formation of a financialcourt
Jubouri calling for the amendment of the Banking Act and the formation of a financial court
Editor: AZ, BS
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Long-Presse / Baghdad Called on Parliament Speaker Salim al-Jubouri, Sunday, to amend the Banking Act in line with the developments of the stage, with the formation of a student is capable of resolving the private banks and relevant financial problems tribunal.
Jubouri said during his Iraqi banks Association Conference, on Sunday evening, on the work of Iraqi banks in the Babylon Hotel in central Baghdad and attended (range Press), "The economic elite are the decision makers and be in conditions that most crises effectiveness and feasibility of, and I hope that this meeting produce a vision clear and new about our crisis we are going through solutions, "adding that" it is important to be convinced that the private banks sector is very important and we must realize its importance and necessity. "
He Jubouri that "the complexities that have passed us did not give us the opportunity to work together to develop a road map that is pushing for activating the role of private banks to support the national economy and the strengthening of Iraq's ability to adjust the economic rhythm," stressing that "watching with interest the many problems between private and government banks on the one hand and between them and between the Ministry of Finance on the other hand. "
And the Speaker of the Parliament, said that "these problems have led to the banking market segmentation, weaken and make them work incorrectly, which underlines the need to modernize the economic vision of the banking business and make it more flexible and realistic", adding "state support for private banks comes from increasing the volume of deposits and open accounts and encourage the banks that offer outstanding performance and contribute to supporting humanitarian work and social projects. "
He said al-Jubouri, "well aware that the Banking Act No. 94 of 2004, the category of private banks as commercial rather than development, while the State-owned banks is a comprehensive banks exercising banking development and to engage in industrial investment, agricultural and others, also realize that this law has been issued in the circumstances in which we live today it is necessary to modify it in line with the developments of the stage and it specifically Article 28 to allow for private banks to exercise commercial matters, provided that they maintain the high liquidity of material. "
He called on the President of the House of Representatives to "form capable of resolving the private banks and stakeholders problems Financial Court, to be a specialist and better able to understand the complexities of the problems of institutions and individuals and financial disputes," pointing out that "the financial, industrial and commercial enterprises are able to determine the fate of the stability of the economy of any country in the world ".